Category: Accounting

India has the second largest population in the world. In March 2011, the total population of India was 1,21,01,93,422 accounting for about 17.64 per cent of the world population.The growth trend of Indian population between 1901-2011 has been plotted below:- 1. Birth and Death Rates: Birth and death rates in India are high compared to most countries in the world. Birth rate refers to number of children born per 1,000 persons in a year. Death rate connotes the number of people dying per 1,000 persons in a year. Image Source: geography.hunter.cuny.edu ADVERTISEMENTS: When it is said that birth rate in India is 23, it means every year 23 children are born per thousand persons, on an average. The percentage decadal growth during 2001-2011 has registered the sharpest decline since independence.…

The study of the state politics in India cannot be accomplished without reference to the caste factor.Without any exaggeration, it can be stated that caste is a dominant factor of state politics particularly in the states of Andhra Pradesh, Bihar, Haryana, Karnataka, Kerala, Maharashtra, Tamil Nadu and Uttar Pradesh. (a) Caste in Andhra Pradesh: ADVERTISEMENTS: The caste factor is so strong a factor in Andhra Pradesh that all the political parties, national and regional, communist and non-communist, formulate their policies, programmes and activities with reference to the caste factor. The electoral politics in Andhra is virtually caste politics. The Reddys, Kammas and Valamas constitute the three angles of Andhra’s political triangle.The history of development of political parties in Andhra can be legitimately described as the history of the competition between…

The Indian retail industry is the fifth largest industry in the world. It comprises organised and unorganised sectors, Indian retail industry is one of the fastest growing industries in India, especially over the last few years. Retail is India’s largest industry, accounting for over 10 percent of the country’s GDP and around eight percent of employment.Though initially, the retail industry in India was mostly unorganised, however with the change of tastes and preferences of the consumers, the industry is getting more popular these days and getting organised as well. With growing market demand, the industry is expected to have grown at a pace of 25-30% annually. The India retail industry is expected to grow from Rs 35,000 crore in 2004-05 to newer heights.In the Indian retailing industry, food is the…

A patent is a statutory grant conferring certain monopoly rights on the grantee for a definite period, subject to certain conditions. In some respect it may be considered as a species of property. The owner of the “Patent”, i.e. patentee is entitled to deal with such property in the same manner as owner of any other moveable property.(a) The patentee can sell the whole or part of this property (Patent).(b) He can also grant license to other(s) to use the patented property. ADVERTISEMENTS: (c) He can also assign such property to any other(s).Such sale, license or assignment of such patented property naturally has to be for valuable consideration, acceptable mutually. In respect of process patents relating to drugs and food, the term is five years from the date of sealing…

FDI-related entry mode involves actual ownership of property, projects, and businesses in a host country. An FDI project means greater control over the operations and involves higher risk and longer-term financial commitment as compared to earlier two entry modes. Image Source: i.ytimg.comOne goes in for FDI related mode only as part of grand strategy, hence takes a keen interest. FDI- related entry modes are – Branch office, joint venture, wholly owned subsidiary, and umbrella holding company. The Branch Office: ADVERTISEMENTS: “A branch office is a foreign entity in a host country in which it is not incorporated that exists as an extension of the parent and is legally constituted as a branch.” In many countries the corporate law allows such branch offices to engage into production and operating activities. However,…

International business is the outgrowth of domestic business. Most of the multinational enterprises (MNEs) started their operations in the domestic market. Yet, it is a fact that international business differs from domestic business in many ways (see Table 1.1). Domestic business occurs within the boundaries of a single nation, whereas international business transactions cross national borders. Image Source: blogs-images.forbes.comDue to the cross over, the firm has to deal with the forces of three types of environments, viz., domestic, foreign, and international. Cultural, political, legal, trade and technological environments overseas are likely to be different. Not only different! But also varying from country to country and region to region within one country. ADVERTISEMENTS: Renault’s “people’s car the Logan, was a hit in Eastern Europe and other parts of the world, but…

54 Questions with Answers and Explanations on “Circulatory System & Immunity” for Biology Students.1. RBCs do not occur in (a) frog Image Source: media.showmeapp.com ADVERTISEMENTS: (b) cow(c) camel(d) cockroach. ADVERTISEMENTS: Answer and Explanation:1. (b): RBCs do not occur in the blood of cockroach. The circulatory system of cockroach is of open type. Viscera lie in the haemocoel immersed in blood called haemolymph. The latter consists of colourless plasma and irregular white corpuscles, the leucocytes. There are no blood vessels except aorta that carries blood from the heart to the haemocoel.2. Breakdown product of haemoglobin is (a) bilirubin ADVERTISEMENTS: (b) iron(c) biliverdin(d) calcium.Answer and Explanation:2. (a, b): The haemoglobin is broken down into haem i.e. iron and globin protein which is then converted into yellowish substance bilirubin which is extracted by…

The joint family is a patriarchal organisation. The senior most male ascendant is the head of the family and is called the Karta or Manager. The Manager represents the family and acts on its behalf. In a family consisting of the father and his children, the father is the manager.When he dies his eldest son becomes the manager. Thus in a joint family consisting of brothers the eldest brother is the Manager. It is open to the senior member to give up his right of Management. Then one junior to him can become the Manager.A woman cannot be a coparcener and so cannot be the Manager of the Family. Radhe Ammal v. Income-Tax Commissioner, AIR 1950 Mad 538. A minor may be the Manager but he has to act through…

Various techniques/techniques of stock taking are as follows:1. Periodic stock verification2. Continuous or perpetual or automatic stock verification ADVERTISEMENTS: 3. Spot checks4. Stock out stores verification5. Annual stock taking. 1. Periodic Stock Verification: Periodic stock taking is quarterly or half yearly checking of the entire stock in one or two days. This takes where the stock comprises a few but expensive items. The method followed is similar to the annual stock taking i.e., physical stock of various items is recorded on inventory sheets or inventory card and then compared with the bin card balance. image source: citadelsystems.com ADVERTISEMENTS: While inexpensive items may be checked once a year, expensive and attractive items should be checked three or four times a year. The physical balance obtained at the end of the financial…

The population of our country is increasing at an alarming rate and according to population studies India has become the second largest country in the world, accounting for 15% of the world’s population with only 2.4% of the world’s land area. image source: pique.pkIn the beginning of 20th century the population of India was 23.8 crores but in the year 1994 it was about 90 crores. The Indian population is increasing by about 25 millions every year. It means more than 70,000 babies are born every day. ADVERTISEMENTS: If population growth rate goes on increasing and remains unchecked then it may cross 1000 million marks by the end of 2000 A.D. and will become the world’s first country in population as compared to China. This population explosion is needed to…